NSE-SGX Arbitration Order Unlikely This Year

NSE-SGX Arbitration Order Unlikely This Year

Gold Silver Reports (GSR) – NSE-SGX Arbitration Order Unlikely This Year — The dispute stems from NSE’s decision to terminate its data-sharing pact with its Singapore partner. The Indian bourse, along with two other domestic exchanges, decided to stop sharing data with foreign peers to prevent volumes from shifting overseas and to promote trading in GIFT City, the international financial hub in Gujarat. Since such contracts are used by foreign investors to hedge their position in India, SGX decided to offer derivatives mirroring NSE’s indices based on public data.            

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HDFC Bank Rises After ADRs Surge 9% Overnight

Gold Silver Reports (GSR) – HDFC Bank Rises After ADRs Surge 9% Overnight – Shares of the country’s largest private sector lender rose as much as 4.48 percent to record high of Rs 2,126 following sharp surge in HDFC Bank ADR shares overnight. HDFC Bank shares will be opened for FII buying starting tomorrow. Macquarie estimates that buying by foreign investors in HDFC Bank shares could be in excess of $1 billion.

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Sensex, Nifty Extend Losses Dragged By Banks; Nifty Auto Index Poised For Worst May In Six Years

Gold Silver Reports (GSR) – Market Check: Sensex, Nifty Extend Losses Dragged By Banks – Indian equity benchmarks extended losses dragged by banking heavyweights like ICICI Bank, State Bank of India, Yes Bank and Kotak Mahindra Bank. The S&P BSE Sensex fell 0.37 percent or 128 points to 35,038 and the NSE Nifty 50 index declined 0.33 percent or 35 points to 10,653.

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